South Korea’s MFG bought 68,000 tonnes of corn

HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased an estimated 68,000 tonnes of animal feed corn in a private deal on Wednesday, European traders said. The corn was purchased at an estimated $317.90 a tonne c&f plus a surcharge of $1.50 a tonne for additional port unloading.

This was the same as paid for some of a corn purchase by South Korean importer NOFI in an international tender earlier on Wednesday. The MFG’s corn was expected to be sourced from South America or South Africa with arrival in South Korea around March 10.